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depreciation to be provided prospectively or retrospectively

This query is : Resolved 
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(Querist)
05 January 2011 I have acquired fixed asset in 2007 but for the same i received government grant in 2010. I have provided the accounting treatment by reducing from the gross value of asset.

issue is

Whether depreciation on above said asset (after deducting subsidy)is to be provided prospectively or retrospcectively.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
05 January 2011 Prospectively, because for this purpose WDV can be equated with actual cost.
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murali

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murali (Querist)
05 January 2011 thank you....
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
05 January 2011 prospectively
AS-12
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